Corporate Governance

CONNECTURE, INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation of Buyout

WILMINGTON, Del., Feb 02, 2018 (BUSINESS WIRE) — Rigrodsky & Long, P.A.: Do you own shares of Connecture, Inc. (OTC QX: CNXR )? Did you purchase any of your shares prior to January 4, 2018? Do you think the proposed buyout is fair? Do you want to discuss your rights? Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Connecture, Inc. (“Connecture” or the “Company”) (OTC QX: CNXR) regarding possible breaches…

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Leyonhjelm: reinstating APVMA board to cure “chronic complaints”

LIBERAL Democratic Senator David Leyonhjelm wants the Australian Pesticides and Veterinary Medicines Authority’s (APVMA) board reinstated, to help curtail “chronic complaints” about the national farm chemical regulator’s poor performance. Senator Leyonhjelm is applying subtle pressure to the federal Coalition and new Agriculture and Water Resources Minister David Littleproud to reverse a change made to the APVMA’s corporate structure which resulted from the Uhrig Review of corporate governance practices for government statutory authorities, in 2003. That review led to the APVMA’s…

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Federal Reserve cracks down on Wells Fargo over scandal involving sham accounts

(c) 2018, The Washington Post. WASHINGTON – The Federal Reserve levied an unprecedented penalty against Wells Fargo on Friday, blocking its ability to grow larger and pressuring the mega bank to replace four board members following widespread consumer abuses. The surprisingly harsh consent order is the latest fallout from Wells Fargo’s admission more than a year ago that it had opened millions of sham accounts customers didn’t want. The agreement, which has been in the works for months, marks the…

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Fed drops hammer on Wells Fargo as four board members ousted

WASHINGTON — The Federal Reserve voted unanimously Friday to impose an unprecedented enforcement action against Wells Fargo in response to its phony-accounts scandal, restricting the bank’s future growth, while Wells said it would remove four members of its board of directors. “Responding to recent and widespread consumer abuses and other compliance breakdowns by Wells Fargo, the Federal Reserve Board on Friday announced that it would restrict the growth of the firm until it sufficiently improves its governance and controls,” the…

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Barron’s 100 Most Sustainable Companies

Every weekday, instead of a private car, Benno Dorer takes Bay Area Rapid Transit from San Francisco to Clorox’s headquarters in Oakland. The Clorox CEO buys sustainable products, including his company’s Brita water filters, and separates his trash diligently, teaching his children to do the same. For a company best known for a toxic product—bleach—Clorox (ticker: CLX) has become one of America’s greenest companies, publishing goals on greenhouse gas emissions and energy use, phasing out controversial substances, and adding lines…

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Fed orders Wells Fargo to halt growth over compliance…

By Reuters Published: 19:43 EST, 2 February 2018 | Updated: 19:43 EST, 2 February 2018 By Pete Schroeder WASHINGTON, Feb 2 (Reuters) – The Federal Reserve ordered Wells Fargo on Friday to halt its growth until it fixes systemic compliance problems that led to consumer abuses, in an unprecedented move that saw the lender’s shares fell sharply in after hours trading. The Federal Reserve Board said in a statement that it would restrict the growth of Wells Fargo, the country’s…

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22nd Century – Cutting Through The Smoke And Hype – 75% Downside – 22nd Century Group, Inc. (NYSEMKT:XXII)

The author holds a short position in 22nd Century Group (NYSEMKT:XXII). 22nd Century is a negative gross margin business operated out of a dentist office that went public via a reverse merger. It is now pushed by bankers tied to numerous stock promotions and is audited by a firm better associated with nanocaps. Most of XXII’s +200% stock performance (from 170 million to 460 million market cap) since the July 28th FDA announcement on lowering nicotine standards is attributable to…

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Sunny Trump – POLITICO

SUNNY TRUMP — As expected, President Donald Trump delivered a fairly standard State of the Union speech on Tuesday night, mostly sticking to the script on the teleprompter and offering an upbeat assessment of the state of the economy that could not have been further removed form the “American carnage” of his inaugural address. He embraced an unemployment rate that he called phony during his campaign and lauded a drop in African-American joblessness that represents a trend that began nearly…

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Three largest mobile operators pay almost UAH 2.5 bln at 4G tender for 2,600 MHz range

The top three largest mobile communications operators Kyivstar, Vodafone-Ukraine and lifecell paid UAH 2.456 billion for 80 MHz in the 2,600 MHz frequency rate for the right to develop 4G communications standard. An Interfax-Ukraine correspondent has reported that lifecell bought two lots for 30 MHz for UAH 909.25 million, Kyivstart bought three lots for 30 MHz for UAH 916.3 million and Vodafone-Ukraine – two lots for 20 MHz for UAH 631 million. The budget would receive UAH 169 million more…

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Eskom’s results ‘dire’ as it battles debt, declining sales and shrinking profits

Overburdened with staff and debt, dealing with shrinking profits, declining sales, and disappearing liquid assets, according to its interim results released yesterday, 2018 is going to be Eskom’s annus horribilis as the new board tries to help turn the ailing utility around. How it intends to do that without a solid game plan is anyone’s guess; and yet, with only 10 days on the job, the board under Jabu Mabuza has managed to stave off the Johannesburg Stock Exchange’s suspension…

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Cyrus Mistry alleges Ratan Tata did nothing to better corporate governance- The New Indian Express

MUMBAI: Ousted Tata Sons chairman Cyrus Mistry today alleged that group patriarch Ratan Tata and others had recognised the need for an effective governance framework at Tata Sons but did nothing about it. Appearing before the National Company Law Tribunal (NCLT), Mistry’s counsel Aryama Sundram said everyone refrained from actually working on the governance framework, which led to Mistry creating a document on his own. Sundram alleged that at the October 24, 2016 board meeting, instead of discussing the listed…

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NDIC seeks IoD’s support for corporate governance in banks – Punch Newspapers

Ifeanyi Onuba, Abuja The Managing Director/Chief Executive Officer, Nigeria Deposit Insurance Corporation, Alhaji Umaru Ibrahim, on Sunday called on the Institute of Directors, Nigeria to address the poor corporate governance practices posing a significant risk to the safety and stability of the country’s banking sector. Ibrahim made the remarks during a meeting with members of the Governing Council of the IoD, led by its President, Alhaji Rufai Mohammed. The NDIC boss stated that the issue of corporate governance was vital…

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Steve Wynn sexual allegations fallout widens

Sexual harassment allegations have prompted Wynn Resorts CEO Steve Wynn to resign as the Republican party’s main money man. On Saturday, Republic National Committee (RNC) chairperson Ronna Romney-McDaniel confirmed that she’d accepted Steve Wynn’s resignation as the RNC’s finance chair. The announcement came one day after media reports of multiple female staffers accusing Wynn of decades’ worth of sexual impropriety. Wynn, who has been among the Republic party’s leading financial donors in recent years, was appointed to the RNC role…

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King: Listed firms among most compliant

Johannesburg – Corporate governance expert professor Mervyn King said the fact that a handful of listed companies have been found wanting in complying with principles of good corporate governance has not tainted the reputation of big corporates. Speaking to City Press shortly after addressing members of the Association of International Certified Professional Accountants and Chartered Institute of Management Accountants at a breakfast event in Parktown this week, King said listed companies in the majority comply well in corporate governance.…

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Wynn Resorts board launches investigation into sexual misconduct allegations against founder

The board of directors of Wynn Resorts has formed a special committee to investigate allegations of sexual misconduct made against the company’s founder and CEO Steve Wynn. In a statement released late Friday, the board said the special committee, “comprised solely of independent directors,” would begin probing the allegations made in a Wall Street Journal article. The investigative committee will be chaired by Patricia Mulroy, a member of the board’s corporate governance and compliance committees, it said. “The Board is…

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Rand Water board nominations to close end-January

The Department of Water and Sanitation (DWS) has called for nominations for candidates to serve on the Rand Water board from 2018 to 2022. Individuals and organisations have been invited to submit nominations of suitably qualified and experienced persons to be considered for appointment as board members before January 31. Potential nominees must possess qualifications and experience in the areas of engineering, project management, construction, contract management, corporate and project finance, water resource specialists, science and information technology, legal and…

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